I recently watched that movie "Floored: Into the Pit" and I began asking myself exactly how one would classify that type of trading.
Obviously fundamentals come into play, but I don't think that you can really classify such an approach to trading as a pure fundamental system. After all, it seemed that a lot of the way trading was done was simply based on the sentiment and buying/selling frenzies that would kick off and go on for who-knows how long.
On the other hand, it really doesn't seem like pit traders could be classified as "technical" traders, right? I mean, there are price feeds all over the place, but there are not a bunch of charts which one could use to look for patterns and you darn well are not running a bunch of indicators on your smart phone and basing all your decisions on whether or not the light is green or red.
So exactly what type of trading are these people doing if they are neither fundamental nor technical traders?
Obviously fundamentals come into play, but I don't think that you can really classify such an approach to trading as a pure fundamental system. After all, it seemed that a lot of the way trading was done was simply based on the sentiment and buying/selling frenzies that would kick off and go on for who-knows how long.
On the other hand, it really doesn't seem like pit traders could be classified as "technical" traders, right? I mean, there are price feeds all over the place, but there are not a bunch of charts which one could use to look for patterns and you darn well are not running a bunch of indicators on your smart phone and basing all your decisions on whether or not the light is green or red.
So exactly what type of trading are these people doing if they are neither fundamental nor technical traders?